scorecardresearch
Thursday, March 28, 2024
Support Our Journalism
HomeIndiaApple supplier Foxlink in process to resume production after fire at Andhra...

Apple supplier Foxlink in process to resume production after fire at Andhra Pradesh factory

The plant is located in Chittoor and is unlikely to resume full operations for two months, raising supply chain concerns, as per Reuters report.

Follow Us :
Text Size:

Taipei: Taiwanese Apple Inc supplier Foxlink said on Wednesday it is working hard to resume production following a fire at a plant in southern India that halted operations at the maker of iPhone charging cables, sending its stock price down.

The factory is located in the Chittoor district of India’s Andhra Pradesh state and is unlikely to resume full operations for two months, raising supply chain concerns for the U.S. tech giant, Reuters reported this week.

Foxlink was engulfed in a massive fire on Monday that led part of the building to collapse, but there were no casualties.

Foxlink, in a statement to the Taiwan stock exchange, said it is investigating the cause of the fire and “working hard to resume production”.

In an earlier statement late on Tuesday, the company said that the site had been blocked off by the fire department and that four production lines were known to be damaged.

As the plant, equipment and inventory are covered by insurance, the fire has not yet had a significant impact on the company’s finances and business, it added.

The company will coordinate with customers and suppliers to “discuss solutions for the production capacity affected before resuming work”.

It did not elaborate.

A government official told Reuters that much of the fire safety equipment at the facility was not functional.

The company’s stock closed down 2.3 per cent on Wednesday, compared to a 0.6 per cent rise for the broader market.

The stock did not trade on Monday and Tuesday due to a holiday in Taiwan.

(Reporting by Ben Blanchard and Yimou Lee; Editing by Shri Navaratnam and Christopher Cushing)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.


Also read: Fire breaks out at Apple supplier Foxlink’s Andhra Pradesh facility, production halted


 

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular